Vulcan Minerals Inc. - Red Cross Lake Delivers Stellar Nickel- Copper-Cobalt Soil Anomaly in Newfoundland
Vulcan Minerals Inc. - Red Cross Lake Delivers Stellar Nickel-
Copper-Cobalt Soil Anomaly in Newfoundland
ST. JOHN'S, NL / ACCESSWIRE / February 8, 2024 / Vulcan Minerals Inc. ("the
Company" - "Vulcan") (TSX-V:VUL), announces impressive soil geochemical results from the
Red Cross Lake Nickel-Copper-Cobalt Project in central Newfoundland. Highlights are as follows:
Highlights:
• From the Government of NL database of 22,400 entries for till samples, the highest
recorded nickel value is 2061 ppm. Vulcan's current survey contains three soil
samples exceeding this value, namely 3,936 ppm, 2,914 ppm and 2,555 ppm nickel
• 17 soil samples exceeding 1000 parts per million (ppm, 0.10%) nickel
• Including best sample of 3,936 ppm nickel, 674 ppm copper and 230 ppm cobalt
Red Cross Lake
In late 2023, 765 soil geochemical samples were taken over the Red Cross Lake intrusive suite
(RCLIS) and surrounding volcanic and volcaniclastic sedimentary rocks. The RCLIS is a layered,
mafic-ultramafic intrusion comprising peridotite, troctolite, olivine gabbro and a variety of further
fractionated gabbroic phases. Detailed mapping and mineral-scale geochemistry demonstrates that
nickel depletion in olivine within troctolite units has occurred and is locally significant, suggesting
that nickel has been preferentially partitioned into an immiscible sulphide melt and segregated in
the intrusion providing an excellent exploration target.
The soil geochemical survey delivered highly anomalous nickel -copper-cobalt values with 41
samples above 500 ppm nickel including 17 samples greater than 1,000 ppm nickel (0.1% Ni) with
the highest sample yielding 3,936 ppm (0.39% Ni). This is one of three samples that exceed the
highest Ni ever analysed within 22,400 entries in the Newfoundland and Labrador Geological
Survey's "Till Geochemistry" database (Newfoundland and Labrador GeoScience Atlas OnLine),
demonstrating the significance of these results on a comparative basis with tills targeting C soil
horizons.
Nickel (Ni) values show a strong correlation with copper (Cu) and cobalt (Co). Twenty -four
samples assayed greater than 200 ppm Cu (maximum of 1,142 ppm) and 22 samples assayed
greater than 100 ppm Co (maximum 230 ppm). The highest Ni-Cu-Co values are coincident with
and adjacent to a prominent magnetic high and electromagnetic conductor defined from an
airborne VTEM survey which is interpreted, based on surface geology, to be related to the lower
portion of the Red Cross Lake intrusion. A map of the soil results and geophysics can be found at
www.vulcanminerals.ca and here.
President Patrick Laracy commented "The impressive soil results confirm the project's significant
potential for magmatic style nickel -copper-cobalt mineralization in a favourable geologic
environment. The high number of anomalous samples spatially associat ed with relevant
geophysical anomalies provide an excellent exploration target. We are initiating permitting for
advanced exploration including drilling where warranted in 2024."
Further, five samples assayed greater than 200 ppm gold within anomalous clusters on the margins
of the geophysical anomalies suggesting association with the Victoria Lake sedimentary country
rock into which the Red Cross Lake Intrusion penetrated. The Red Cross Lake property is
immediately adjacent to the Marathon Gold, now Calibre Mining Corp., claims where a multi
million-ounce gold deposit is currently is being developed. Their mining lease is approximately
3.5 kilometres to the west of Vulcan's claim boundary.
Quality Control
Vulcan contracted GroundTruth Exploration to complete the soil geochemical survey at Red Cross
Lake. Soil traverses were carried out on 100 m spaced grid lines with 100 m stations. Samples
were collected using hand augers to target C horizon soil. GroundTruth collected 4 field duplicate
samples per 100 samples. Samples were delivered by GroundTruth to SGS Canada Inc. (SGS) in
Grand Falls -Windsor for preparation prior to analysis at the SGS Burnaby laboratory. Vulcan
employed SGS' two -acid leach / ICP -MS multi-element analysis. SGS's analytical laboratories
operate under a Quality Management System that complies with ISO/IEC 17025 and undertake
their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and
equipment calibration. Preliminary inspection of these control samples shows them to be within
the expected limits.
About Vulcan
Vulcan Minerals is a precious and base metals exploration company based in St. John's
Newfoundland. The company has strategic land positions in multiple active Newfoundland gold
and base metal exploration and development belts. It also holds approximately 30.5% of the shares
in Atlas Salt Inc. (TSXV: SALT). Atlas Salt is an industrial minerals company currently
developing the Great Atlantic Salt deposit in western Newfoundland.
Patrick J. Laracy, P. Geo. President, is the qualified person responsible for the technical contents
of this news release as defined in National Instrument 43-101.
We seek safe harbour.
For information please contact:
Patrick J. Laracy, P.Geo.
President
(709) 754-3186
www.vulcanminerals.ca
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the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release. This press release includes certain "forward -looking information" and "forward -
looking statements" (collectively "forward-looking statements") within the meaning of applicable
Canadian securities legislation. All statements, other than statements of historical fact, included
herein, without limitation, statements relating to the future operating or financial performance of
the Company, are forward-looking statements. Forward-looking statements are frequently, but not
always, identified by words such as "expects", "anticipates" , "believes", "intends", "estimates",
"potential", "possible", and similar expressions, or statements that events, conditions, or results
"will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press
release relate to, among other things: completion, delivery and timing of the referenced
exploration program and assumptions related thereto. Actual future results may differ materially.
There can be no assurance that such statements will prove to be accurate, and actual res ults and
future events could differ materially from those anticipated in such statements. Forward -looking
statements reflect the beliefs, opinions and projections on the date the statements are made and
are based upon a number of assumptions and estimates that, while considered reasonable by the
respective parties, are inherently subject to significant business, technical, economic, and
competitive uncertainties and contingencies. Many factors, both known and unknown, could cause
actual results, performance or achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied by such forward -looking
statements and the parties have made assumptions and estimates based on or related to many of
these factors. Such factors include, without limitation: the timing, completion and delivery of the
referenced assessments and analysis. Readers should not place undue reliance on the forward -
looking statements and information contained in this news release concerning these times. Except
as required by law, the Company does not assume any obligation to update the forward -looking
statements of beliefs, opinions, projections, or other factors, should they change, except as
required by law.
SOURCE: Vulcan Minerals Inc.